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C Stands For Cartel Stupid! The so called NOPEC Bill which has passed the House and Senate in slightly divergent forms would essentially allow the U.S. government to sue OPEC members countries for price manipulation. As Congressman John Conyers of Michigan, chairman of the House Judiciary Committee and the bill’s sponsor, said Opec’s production quota [...]
Oil: Cruising Higher. July crude rallied strongly yesterday (up $0.89 to $66.87) along with the rest of the 12 month strip as tensions mounted in Israel and Lebanon with the summer heat. Nigeria took a few more hostages but no major supply disruptions were reported yesterday. I’d say we’re definitely headed for a test of [...]
New system. Back in business. Ok, not completely back in business but getting there. My system crashed Friday after the close so bear with me today as I recover files and programs including my trading system. In other words, no graphics today and maybe not tomorrow. My thanks to the guys of Best Buy’s Geek [...]
Hey guys, Great week for the E&P and service longs and an ignominious ending to the remaining refining puts. Shortly after the close I heard a slow steady but quiet “plinking” sound coming from the direction of my PC. There was no pulse and it was unresponsive to multiple strings of obscenities. I’ve already taken [...]
Crude Thoughts: What The Heck Was That? A second week of seemingly bearish gasoline inventory numbers and we get a mega rally in RBOB the next day? I expected a firm crude market on the back of increasing demand for gasoline production and the lofty international prices but a rally to $65? I didn’t see [...]
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